The global voltage sag protector market was valued at US$ 740.6 Mn at the end of 2021 and is anticipated to exhibit a growth rate of 6.1% over the decade. Market growth is attributed to rise in urbanization, growing semiconductor sector, and increasing spending on improving power quality.
Voltage sags can be disastrous in industrial and commercial environments. A voltage sag is a drop in an AC electrical circuit’s voltage level. Sensitive equipment can get destroyed, resulting in costly delays or repairs. Entire assembly lines can be shut down in rare instances.
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Voltage sag protectors compensate for short power interruptions in industrial and manufacturing plants because they have no battery, no moving parts, and require less maintenance. Battery-free voltage sag protectors are gaining immense popularity of late. Sag protectors without batteries are used in key manufacturing processes and sensitive devices that require voltage sag protection. These voltage sag protectors eliminate the need to replace batteries every few years.
Sales of voltage sag protectors are anticipated to observe significant growth as data centers and other commercial & industrial businesses seek ways to mitigate the loss of value caused by voltage sags. These devices are appropriate for data centers and other critical loads since they are intended for frequent high-inrush current and low-power factor applications. Businesses can save on their energy bills while guaranteeing that their equipment is always functioning at optimal performance by preventing voltage sags.
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Key Takeaways from Market Study
- Global demand for voltage sag protectors is forecasted to reach a value of US$ 740.6 Mn by the end of 2032.
- North America is anticipated to remain one of the key markets accounting for over 20% of the global market share.
- By end-use industry, the IT sector is anticipated to witness a CAGR of 9% over the decade.
- Three-phase type voltage sag protectors will remain dominant and account for 70% market share on a volume basis.
- The East Asia market is expected to witness a CAGR 6.7% over the forecast period.
“Increasing industrialization coupled with rising focus on power quality, particularly in the commercial and industrial sectors, will create a crux of opportunities for market players over the coming years,” says a Persistence Market Research analyst.
Competitive Landscape
The global market for voltage sag protectors has been identified as a consolidated space as leading companies account for more than two-thirds of the market share.
Some of the key market players included in the report are Rockwell Automation Inc, ABB, Schneider Electric, Shizuki, Eaton Corporation plc, General Electric Company, LS Electric Co Ltd, Sinexcel, and OKY LTD.
These key market participants are expected to maintain a competitive environment all over the globe.
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